Ask HN: If someone else is "doing it", is that a reason not to compete?

#1

Post by potatofish » Mon, Jun 28, 2010, 10:39 PM UTC

I think just about any idea has been tried to one degree these days. I am working on something that on paper is being done by a number of firms. The thing is I have a different angle on several levels for how it can be better and more competitive. But I am concerned about trying to convince investors of this. Given that Facebook came along after MySpace, I'd like to think there is no reason not to pursue something that's "been done" or "being done". I mean, after all there was IBM before there was Microsoft, and there was Microsoft before there was Google.

But I guess I would like to hear thoughts on this. And now, what I'm doing is not on the scale of those companies, but I don't think that matters to the discussion.

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#2

Post by patio11 » Mon, Jun 28, 2010, 10:42 PM UTC

No. They're not doing it the same way, for the same people, with the same marketing slant, etc etc. More broadly, competitors are great -- they provide validation that people will pay for your service, and every day they're in business they create folks who are let down by their inadequate and inferior offerings and who wish nothing more than to jump to your new hotness. (I'm not sure how much I believe that last bit.)

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#3

Post by coderdude » Mon, Jun 28, 2010, 10:46 PM UTC

You'll end up finding that a lot of your competitors are incompetent, or don't have the same ability to execute your idea quite like you can. In most cases I would say don't let competition discourage you. Let them show you what not to do.

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#4

Post by milkshakes » Mon, Jun 28, 2010, 10:59 PM UTC

these might help, from last week:

http://cdixon.org/2010/06/26/competition-is-overrated/ http://news.ycombinator.com/item?id=1463677

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#5

Post by bradleyland » Mon, Jun 28, 2010, 11:02 PM UTC

There is very little in the world that is "new". Most of what is purported as new is really an old idea that has been re-worked in to a new medium, or an amalgamation of old ideas. This is not a bad thing. Henry Ford may have modernized automobile production, but he wasn't the last guy to start a car manufacturer. Many have come and gone since.

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#6

Post by hazmattron » Mon, Jun 28, 2010, 11:09 PM UTC

coderdude wrote: post #3

You'll end up finding that a lot of your competitors are incompetent, or don't have the same ability to execute your idea quite like you can. In most cases I would say don't let competition discourage you. Let them show you what not to do.

Expanding on this, the fact that they've done it before is actually an advantage to you: now you know exactly what you can do to make it better. Improvement can always be made.

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#7

Post by lleger » Mon, Jun 28, 2010, 11:19 PM UTC

If entrepreneurs never pursued their dream just because someone else had already done it, we wouldn't have some of the most important innovations. Some of the greatest companies grew not out of a need for something that didn't exist, but out of a need to do it better. If you have an idea and can execute it better, or in a new, needed way, then you should absolutely do it. Pursue it with everything you have. You're an entrepreneur, after all.

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#8

Post by davcro » Mon, Jun 28, 2010, 11:25 PM UTC

No. The internet is a big place and there is room for multiple competitors. If someone else is "doing it," than the idea has been proven to be lucrative.

Regarding investors, if this is a web app, IMO, you should have an alpha version with good traction before raising money.

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#9

Post by stevederico » Mon, Jun 28, 2010, 11:36 PM UTC

You should go out there and compete. You could say myspace was "doing" what facebook does. Stay focused on your goal and build on your competitive advantage. Don't get scared out of the market. Competition only invites innovation and a healthy challenge.

Re: Ask HN: If someone else is "doing it", is that a reason not to compete?

#10

Post by uast23 » Mon, Jun 28, 2010, 11:36 PM UTC

Probably this is becoming most clichéd question :)

Generating a totally unique idea and selling it to people will probably get you another "Apple"(I don't mean it literally). But till the time it does not happen, there is nothing wrong with working on something which is shared by someone else too, its just that yours should be better than others and should have enough differentiators to "rock". I am not going to quote "Google", "Facebook" et al. here again because everyone already knows the story.